Consumer confidence up in 2017: Nielsen

The Consumer Confidence Index for China reached 112 points in 2017, an increase of 6 points compared with 2016, according to a report by Nielsen Group released on Tuesday.

The strong index was due to rises in subindexes including job prospects, personal finance, and the willingness to spend, with all three reaching their highest level since 2015.

"Led by the new development concept, China's economy has been shifting from a growth model driven by large volume to a model fueled by quality and efficiency. It has entered a new stage of 'steady growth with improved quality,'" Vishal Bali, managing director of Nielsen China, was quoted as saying in the report.

Led by an innovative spirit, new consuming sectors in China's coastal areas have boosted local residents' willingness to spend, according to the report.